IGTFX technical analysis

IGTFX technical analysis, South pacific markets will be on the main focus in our report today. IGTFX , The higher-yielding NZD and AUD performed huge monthly profits against lower-yielding pairs like the USD and the JPY. IGTFX ,

IGTFX , The NZD gained to its highest level since the middle of January at 65.93 IGTFX , against the JPY before a government report showed that the nations’ home-building approvals gained in February for the first time in three months. Permits to build homes in IGTFX , New Zealand increased 5.9 percent in February, IGTFX , which pushed speculations that residential construction will help accelerate the nations’ economic growth this year and spurs the central bank to raise its benchmark interest rate. IGTFX , The AUD gained over its resistance level from the end of February before reports tomorrow, IGTFX , are expected to show that retail sales gained 0.3 percent in February and building approvals rose 2.1 percent, IGTFX , according to surveys of economists. IGTFX , IGTFX , A lot of statistics and surveys give also a sign IGTFX , that the Reserve Bank of Australia will increase its target rate on the coming policy meeting on April 6th.IGTFX ,

IGTFX , The NZD has gained for a fourth day versus the USD, IGTFX , trading around 0.7100 while it fell for a second day against the strong EUR, coming back from a high at 1.9018. IGTFX , The NZD gained 1.6 percent versus the USD this month while the AUD/USD climbed 2.4 percent. Against the JPY, IGTFX , the NZD and the AUD added a 5.3 percent and a 6.1 percent monthly-gain. IGTFX , Benchmark interest rates are 4 percent in Australia and 2.5 percent in New Zealand, IGTFX , compared with 0.1 percent in Japan and as low as zero in the U.S., IGTFX , spurring demand to the South Pacific nation’s higheryielding assets.IGTFX ,

IGTFX , The JPY extended its gains from its almost three-month low versus the USD after Japan’s industrial production fell in February IGTFX , and the unemployment rate held at the lowest level since March 2009. IGTFX , The Jobless rate stayed at 4.9 percent after two monthly declines. IGTFX , Separate government reports today showed a 0.5 percent drop in February house spending, IGTFX , which was the first decline in seven months. IGTFX , The USD/JPY fell to a low near 92.12 after it reached a daily high around 92.95 last Thursday.IGTFX ,

NZD/JPY (1 Hour)IGTFX , Since March 24th the NZD/JPY has been moving above a bullish Fibonacci fan. IGTFX , After recovering below the resistance level around 65.65, the pair reached the upper level of the fan for the second time. IGTFX , As you can see, IGTFX , the MACD may still signalize a bearish recovery. IGTFX , If the pair enters the Fibonacci fan, we might see further falls towards the support levels around 65.11 and 64.85. IGTFX ,

EUR/JPY (Daily)IGTFX , Since the beginning of the year, the EUR/JPY has been falling along a downward Fibonacci fan. IGTFX , As we can see, IGTFX , the market reached the horizontal resistance around 125.00 for the third time after it entered back the upper area of the fan last week. IGTFX , If the market doesn’t break the resistance line around 125.00 but break the Fibonacci fan, IGTFX , it might continue it’s sideways movement below the resistance point. IGTFX , If the pair not even breaks the fan, we might see further bearish movements. IGTFX ,